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Visa V Client incentives

Client incentives at other companies

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$9.5M+39.7%
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Charles River LaboratoriesCRL
$524.81M-7.1%
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$4.23B0.0%
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$152.95M+8.6%
Asure Software logo
Asure SoftwareASUR
$217.31M-16.0%
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PaylocityPCTY
$3.21B+19.1%

Other financials

Income statement

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Revenue$11.6B+14.4%
Gross profit$11.4B+14.1%
Operating income$6.9B+11.3%
Net income$5.6B+6.8%
EPS (diluted)$2.97+10.4%

Balance sheet

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Cash & equivalents$18.8B-23.2%
Total debt$26.9B-12.5%
Total equity$35.2B-9.0%
Total assets$94.6B-5.4%

Cash flow

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Operating cash flow$6.6B-2.6%
CapEx$417.0M-1.0%
Free cash flow$6.1B-2.7%

Valuation

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Market cap$688.08B+4.3%
Enterprise value$696.17B+4.6%
P/E30.5×-2.0×
P/S15.5×-1.5×

Profitability

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Gross margin97.7%-0.1pp
Operating margin60.7%-1.5pp
Net margin50.8%-1.4pp
FCF margin47.2%-9.5pp

Returns & leverage

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Return on equity61.2%+9.4pp
Debt / equity0.8×0.0×
Current ratio-0.1×

Where this comes from

Reported directly by Visa in its filing.

Tagged under the XBRL concept v:AmortizationOfClientIncentives.

The source filing: Visa’s 10-Q, filed July 29, 2026.

Filed
Jul 28, 2026, 8:00 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q2 2026
Accession
0001403161-26-000104
Line itemNine Months Ended June 30, 2026Nine Months Ended June 30, 2025
Operating Activities
Net income$17,502$14,968
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Client incentives13,19411,503
Share-based compensation728706
Depreciation and amortization1,026904
Deferred income taxes(638)347
VE territory covered losses(108)(22)

ITEM 1. Financial Statements (Unaudited)

FAQ

What is Visa's client incentives?
Visa (V) reported client incentives of $4.68B in Q2 2026.
How has Visa's client incentives changed year-over-year?
Visa's client incentives increased by 17.8% year-over-year, from $3.97B to $4.68B.
What is the long-term trend for Visa's client incentives?
Over 4 years (2021 to 2025), Visa's client incentives has grown at a 17.1% compound annual growth rate (CAGR), from $8.37B to $15.75B.
What does client incentives mean?
Represents the non-cash expense recognized over time related to payments made to financial institution clients to secure long-term payment volume commitments. This reflects the systematic allocation of upfront incentives over the life of the underlying service agreements. It is a critical indicator of the cost of maintaining market share and competitive positioning within the payment processing ecosystem.

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